Greek Inflation Drops To 7-Month Low

4/9/2012 5:22 AM ET

Greece's consumer price inflation slowed to the lowest level in seven months in March, data released by the Hellenic Statistical Authority showed Monday.

The consumer price index increased 1.7 percent year-on-year in March, markedly slower than the 2.1 percent growth seen in February. The latest inflation rate was the lowest since August 2011, when prices moved up 1.7 percent.

Food and non-alcoholic beverages prices rose 2.4 percent annually, while clothing and footwear prices decreased 3.6 percent. There was a 6.9 percent annual increase in housing costs during the month, and a 3.8 percent gain in transportation costs.

On a monthly basis, consumer prices advanced 2.8 percent in March, reversing the 1.5 percent decrease seen in the previous month.

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